Federal Energy Regulatory Commission (FERC)

The
Federal Energy Regulatory Commission (FERC),
formerly the Federal Power Commission (FPC),
is a Federal regulatry body headed by five commissioners.
Its website describes itself as
"an independent agency that regulates the interstate transmission
of natural gas, oil, and electricity. FERC also regulates natural gas
and hydropower projects".
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FERC was petitioned by California during the
California Electricity Crisis
to investigate market manipulation by the
energy wholesalers,
and in the following years to force a re-negotiation of long-term contracts
signed when the state was being held hostage.